Earlier this week NAR announced breaking news that the Department of Veterans Affairs (“the VA”) has signaled a temporary suspension on buyer agent payment bans. While the VA has not officially released any details, at a Mortgage Bankers Association conference in New York, Veterans Affairs Deputy Director of Policy Michelle Corridon made comments indicating that the VA will temporarily lift the ban that prohibits buyers who have paid or will pay a buyer agent commission from obtaining a VA loan. Corridon indicated that a circular would be issued between now and June 12 that “bridges the gap” while the agency engages in a formal rulemaking process.

This news comes just two weeks after the NAR Legislative Meetings in Washington, DC where REALTORS® from Virginia and all over the country delivered a unified message while talking to Congress. It is proof positive that having REALTOR® Champions in positions where policies are being made is the key to success as REALTORS® advocate for their industry, their business, and their clients. No doubt this victory and many others can be attributed to REALTOR® members getting out to the polls to vote for REALTOR® Champion candidates, turning their voices into action by attending days on the hill and answering calls for action, and investing in RPAC to ensure those issues are front and center in the minds of lawmakers!

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Contributions to Virginia REALTORS® RPAC are voluntary and are used for political purposes; they are not deductible for federal or state income tax purposes. Members may contribute more or less than the suggested amount and may refuse to contribute without reprisal. The National Association of REALTORS® or any of its state associations or local boards will not favor or disfavor any member because of the amount contributed. NAR has established state Federal RPAC Disbursement Allocations based on anticipated National RPAC needs. Thirty percent of all Major Investor contributions are sent to NAR to be applied to the Federal RPAC Disbursement Allocation and are charged against the limits under 52 U.S.C. 30116 with the remaining seventy percent maintained for state and local usage. Decisions regarding Virginia REALTORS® RPAC contributions to meet the Federal RPAC Disbursement Allocation will be made throughout the fundraising year. The contributor certifies that they are at least 18 years old and are making this contribution with their own personal funds- not those of another person or entity, nor are they a foreign national or federal contractor.